A Glimmer of Hope Ethiopian Microfinance Initiative

Commitment by

A Glimmer Of Hope Foundation

As of March 2009, A Glimmer of Hope fulfilled its commitment to provide $1.25 million in micro-loans to fund programs for people living in abject poverty in rural Ethiopia. Loans were provided to more than 4,000 borrowers and reached an additional 20,000 beneficiaries indirectly through increased household incomes, food security, and jobs. Additionally, as these funds will be repaid into a revolving fund, they will provide additional opportunities for new borrowers in future years.

Region

Countries

Commitment by

Partner(s) of the Commitment Maker(s)

Media/ Marketing Opportunities A Glimmer of Hope commits to providing social capital in the amount of .25m to seed income generation initiatives and programs for people living in abject poverty in rural Ethiopia. The commitment is expected to provide loans to over 4,000 individuals and groups in the first year and reach an additional 16,000 beneficiaries indirectly through increased household incomes. A Glimmer of Hope Foundation plans to support three types of income generating activities.
Micro-Irrigation: Loans provided to farmers to purchase water lifting pumps and drip irrigation kits to increase crop yields and frequency. Upgrading traditional irrigation systems to modern drip irrigation technologies utilizing accumulated underground water creates a sustainable source of controllable water, which eliminates dependence on rainfall. The result is an increase in food security, crop diversification and income generation opportunities.
Women Entrepreneurs: Women are the poorest of the poor in rural Ethiopia. Small loans are provided to female entrepreneurs for start-up and small businesses to cover activities such as: handicrafts; dried foods; dairy; fruits and vegetables; injera bread; tailoring; and, clothing manufacture.
Small/Medium Enterprise: Larger loans disbursed to established businesses or a group of individuals in business together to start or expand their enterprise. Businesses such as: honey processing; beef cattle fattening; restaurants; poultry; wood and metal workshops; and, grain mills.

Background

A Glimmer of Hope has identified ,000 of the .25m commitment for potential program grants. A Glimmer of Hope will work with our MFI partners to develop program proposals that will meet the strategic goals of the donors A Glimmer of Hope, and the partner MFI. We will fund the programs in a timely manner, and track the progress of the program at regular intervals, to ensure the program is tracking to schedule and metrics. Additionally, A Glimmer of Hope will continue to identify donor candidates for additional programs to meet our commitment.

Partnership Opportunities

SEEKING: Media/ Marketing Opportunities

Progress Reports

March 2009
As of March 2009, A Glimmer of Hope disbursed $1.25 million to loan recipients in the following three categories:
- Micro-Irrigation: Loans provided to farmers to upgraded traditional irrigation systems to modern drip irrigation technologies eliminating the dependence on rainfall. The result is an increase in food security, crop diversification, and income generation opportunities.
- Women Entrepreneurs: Small loans provided female entrepreneurs for start-up and small businesses to cover petty trade activities, such as handicrafts, dried foods, dairy; fruits and vegetables, injera bread, tailoring, and clothing.
- Small/Medium Enterprise: Large loans disbursed to established businesses or a group of individuals in business together to start or expand their enterprise. Businesses such as honey processing, beef cattle fattening, restaurant, poultry, wood and metal workshops, and grain mills.